There are a number of types of insurance you’ll need to consider: building or home insurance, contents insurance and mortgage protection insurance to name a few.

Building or home insurance

Depending on the type of loan you’ve taken out, it may be compulsory for you to take out building or home insurance to safeguard the lender’s interest in the property. Even if this is not mandatory, it is strongly advisable.

Building or home insurance covers you for damages to your property or its fixtures.

Depending on your level of cover, you may be able to protect yourself for anything from fire and storm damage to burglary. Essentially, home insurance covers the cost of restoring your property to its present condition if it is damaged. Make sure you read and understand the policy as insurance cover can vary from issuer to issuer. Also, don’t underestimate insurance costs, as you may end up out of pocket should disaster strike.

Contents insurance

Contents insurance protects you in the case of loss or damage to your personal belongings and items in your home, such as whitegoods, clothing and furniture. While you may already have contents insurance, it’s a good idea to update it after a move into a new property – especially if you’ve decked out your new house with brand new furniture and appliances.

You’ll usually have a choice between two types of contents insurance: a policy that replaces the old goods with new ones or you can opt for an indemnity policy, under which you’ll receive the depreciated value of what was damaged.

Life insurance policy just for homebuyers

It’s safe to assume that our standard of living, health and family are important to us. However, there are certain events, such as serious illness or injury, which can put your home, lifestyle and future plans at risk.

Results Home Loans services extend beyond just helping you find the right loan. It’s also about helping you understand the risks of borrowing. We have a solution which may help you manage those risks and could provide you and your loved ones financial assistance when you need it the most. The payout could help with things like living expenses, medical costs, and your mortgage repayments.

To learn more about this potential insurance solution click here. Or contact us today.

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